Great Wall Asset Management to cut stake in Hunan Silver

China Great Wall Asset Management, a major shareholder in Hunan Silver Co. Ltd., plans to reduce its stake by up to 55 million shares, representing 1.95% of the company's total share capital. This divestment, scheduled between December 11, 2025, and March 10, 2026, will be executed through a combination of centralized bidding and block trading.

Great Wall Asset Management intends to sell up to 28.23 million shares (1% of total share capital) via centralized bidding and up to 26.77 million shares (0.95% of total share capital) through block trading. The shares to be divested originated from the company's capital reserve conversion in November 2020 and February 2021, following a court-mandated reorganization.

As of the announcement date, Great Wall Asset Management holds 159,063,972 shares, equivalent to 5.63% of Hunan Silver's total share capital. The company clarified that Great Wall Asset Management is not a controlling shareholder or the actual controller, and this reduction will not alter the company's control structure or significantly impact its ongoing operations.